Updated Dec 4, 2024
Fernando Rivera & Michael Galvan Facilitate $2.5M Chicago Multifamily Sale
616 South Racine Avenue
$2,500,000
Units
5
Asset Type
MultiFamily
Closing
Apr 23, 2024
About this deal
AI
In Chicago, a multifamily property located at 616 South Racine Avenue was sold for $2,500,000. The property consists of 5 units, with each unit priced at $500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Address: 616 South Racine Avenue
- Market: Chicago
- Units: 5
- Price Per Unit: $500,000
- Buyer's Rep: Fernando Rivera - Extreme Realty
- Seller's Rep: Michael Galvan - Baird & Warner
Fernando Rivera of Extreme Realty represented the buyer, while Michael Galvan of Baird & Warner represented the seller in this transaction.
Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93